CSC reports poor yearly profits due to NHS contract
Friday, May 18, 2012
CSC has released a statement pointing to losses from NHS write-offs as being partly due for a full year-revenue of $15.88 billion, down from $16.04 billion last year.
CSC announced in December of 2011 that the Lorenzo patient record system was expected to cost the company $1.5 billion. The company has announced over 1,000 job cuts in Britian earlier this year, with about half coming from within the NHS team in order to provide cost-savings.
CSC chief executive Mike Lawrie, said “We consider these results to be very poor as the company is executing well below an acceptable level for CSC and its investors,”